Exploring and keeping readers up to date with the growing economic and political ties between China and South America. Including all the good stuff: Commodities, Energy, International Finance, South-South Cooperation, Microfinance and more

Saturday, October 10, 2009

It’s been awhile since CSA last ventured into the world of MicroFinance. Well today some news caught my attention.

About sixteen Peruvian Micro-Entrepreneurs (if that’s the correct term to call them) from various sectors will travel to Guangzhou, China to participate in the 106th Guangzhou Import and Export fair. With a total of 209 countries in attendance, and thousands of exhibitors, this is a big deal for these small Peruvian businesses.

I question if these business are truly worthy of being called the products of micro-finance. I hope that they are, but my gut is telling me it’s quite possible corruption and classic South American favoritism probably led the Peruvian government to carefully handpick a few to send to China.

On the other hand, if they are truly small micro-enterprises which earned this trip to China through participating in a micro-finance program of some sort, this would be a case and point example of the potential of micro-finance institutions to empower the poor with the tools they need to succeed.

If you can read Spanish please click here to access the article which served the basis for this post.